Chase Investment Account Promotion
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J.P. Morgan Chase is known as one of the largest banks in the world. But did you also know
that they have a brokerage offering for investors? Not only do they provide unlimited
commission-free trades but, they are currently offering a bonus of up to $700 for new
customers. Let’s explore this JP Morgan investment account offer and how to qualify.
What Exactly is The Chase Brokerage Account Offer?
The way the bonus offer works is very simple. You need to open up a new investment account with
J.P. Morgan Chase and bring funds into your account. There are three tiers of bonuses that you can
earn, depending on how much money you bring into your account.
The first tier is a bonus of $50 for a deposit of $10,000-$24,999, second is $150 when you fund with
$25,000-$99,999. The third tier is a bonus of $350 when you fund with $100,000-$249,999. The fourth
tier is a bonus of $700 when you fund with $250,000 or more. “What is the catch?” Don’t worry, we dug
into the fine print for you, and we are going to cover all the important details you need to know.
Steps to Get The JP Morgan Bonus Offer
There are three simple steps you need to take to cash in on the bonus offer. The first step is to
open up one of three different types of a J.P. Morgan Self-Directed Investing account. The second
step, once your new account is opened, is to transfer “qualifying new money” into your account within 45 days of signing up for the bonus offer. The third step is to keep the money in your account for 90 days. Let’s go over each step in detail so you don’t miss anything.
Step One: Opening Your Account
The account types you can open are either a General Investment Account (aka a non-retirement brokerage account), a Traditional IRA, or a Roth IRA. If you aren’t familiar with these account types or you need help choosing which account, Chase includes a “help me choose” button which gives you a breakdown of each account type. If you are opening a General Investment account, it can be either a joint account or an individual account. There is no minimum deposit required to open a new account.
You have to visit a specific page on Chase’s website when opening your new account in order to qualify for the bonus offer. Just click the big green “Open Chase Account” button anywhere in this article and you will be taken directly to the right place.
Step Two: Transferring “Qualifying New Money”
Chase considers any cash or securities that are not coming from existing J.P. Morgan, Chase, or their affiliate partners as “qualifying new money.” This means if you have a Chase bank account, you can’t transfer cash from that bank account into your new Chase General Investment account and have that cash count towards meeting your bonus offer. You can transfer cash from any of your other bank accounts though.
Most people don’t have $250,000 of cash just sitting around but, if you have investment accounts with other firms already, then you can qualify by transferring those existing accounts. For example, if you have a Traditional IRA with $500,000 in it, you can initiate a non-taxable IRA-to-IRA transfer between your existing and new Traditional IRA to move all of that amount or just enough to meet whatever level of the bonus offer you are going for.
Maybe you don’t have an IRA but, you have an existing non-retirement brokerage account. You can transfer cash or securities from your existing brokerage account to your new General Investment account to qualify as well.
Chase gives you a 45-day window to fund your account with “qualifying new money” from the time you sign up for the bonus offer. They automatically track any new cash or securities that come in during this window. You are allowed to bring in multiple transfers or make multiple deposits and all of the funds will count towards your total for the 45-day window. Chase adds up your total of all “qualifying new money” during your 45-day window and this is how they determine your total bonus level.
If you transfer in cash, you can use that cash to trade and invest, and even if you lose some or all of that money, it still counts as the original amount you transferred in towards the bonus offer. As an example, let’s say you transfer $25,000 of cash into your account. You decide to trade with that $25,000 of cash and unfortunately, you lose $10,000 trading so you only have $15,000 left at the end of your 45-day window. Chase still gives you credit for the original $25,000 that you transferred in. So, you would still end up qualifying for the bonus amount of $125.
If you transfer in securities, the same rules apply. You can transfer securities into your account, and you get credit for the original value of the securities when you transfer them into the account, regardless of any market fluctuations that might cause your securities to go down in value. As an example, let’s say you bring $270,000 worth of securities into your new account. Those securities end up going down in market value by $40,000 so at the end of your 45-day window, those securities are only worth $230,000. Chase gives you credit for the original value of the securities at $270,000, so you would still qualify for the $650 bonus.
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Step Three: Keep The Money In Your Account
You can’t open a new account, transfer money into your account, and then a week later transfer the money right back out. For the purpose of qualifying for the bonus offer, the “qualifying new money” needs to be held in your account for 90 days after the money arrives.
There are two time periods that you need to be aware of. The first is the previously mentioned 45-day window you have to bring funds into your account. The second is the 90-day holding period you need to keep the funds in your account. This 90-day holding period applies for each individual transfer you do.
For example, let’s say you want to get the $700 bonus. If you bring $150,000 into your account on the 10th day after signing up for the offer, then you bring another $100,000 in on the 30th day after signing up for the offer, and you don’t bring in any more after that, you will have a total of $250,000 of “qualifying new money” by the 45th day. The $150,000 transfer and the $100,000 transfer each have their own separate 90-day holding period that you need to keep those funds in the account.
Just like how trading losses and market fluctuations don’t impact the original amount of funds you brought into your account during your initial 45-day window, they also don’t impact the amount of funds you have by the end of your 90-day holding period for keeping the funds in your account. Basically, once you bring your “qualifying new money” into your new J.P. Morgan Chase account, as long as you don’t transfer it out, then you will be given credit for the original amount towards your bonus offer.
Important Details About The JP Morgan Bonus
This Chase Investments offer expires soon so you need to at least sign up for the offer and open your account by then. The good news is that you have the 45-day window we talked about to bring in funds regardless of when you open your account.
Your Chase Investments cash bonus offer will be credited to your new account that you brought the funds into only after you meet all the requirements. The requirements include the three steps we discussed in this article. Your cash bonus offer will show up in your account 15 days after each of your 90-day holding periods is completed for all transfers you do. Let’s quickly go back to the example we used with the separate $150,000 transfer and $100,000 transfer for a total of $250,000. To start, 15 days after the 90-day holding period for the first transfer of $150,000, you would receive a cash bonus of $300. Then, 15 days after the 90-day holding period for the second transfer of $100,000, you would receive another cash bonus of $325 for a total of $700.
You don’t qualify for this JPM bonus offer if you have enrolled in any other
Chase Private Client Checking, Chase Sapphire Checking, or J.P. Morgan Self-Directed Investing new money bonus within 12 months from your last bonus enrollment date. This bonus offer is valid for one-time use only. You can only get one bonus per person. But, if you and your spouse each want to take advantage of the bonus offer with your own separate accounts, you can certainly do so.
This offer is only eligible for J.P. Morgan Self-Directed Investing accounts. So, any J.P. Morgan Automated Investing accounts or accounts opened with a J.P. Morgan Advisor will not qualify. When you visit the special bonus offer page and click open an account, you will be directed to choose from one of the three eligible accounts which is why it’s important to only open an account from that page.
This JPM cash bonus is technically considered income so, you may end up receiving a Form 1099-MISC from Chase at the end of the year if you do earn a bonus.
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Are you ready to go ahead and get your bonus? Get started by clicking any of the big blue
“Open Chase Account” buttons anywhere in this article and you will be taken directly to the right place. If you have any questions about the offer or your eligibility, you can contact J.P. Morgan’s Investment team at 800-392-5749.
Chase Promo Disclosure
INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
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